Property sales in south of France expected to rise

There are likely to be more homes put up for sale in the south of France over the coming months, one local estate agency has claimed.

Estate Net France believes that the introduction of a new capital gains tax, which will affect all property owners in the country, will result in an increased number of houses coming on to the market.

The organisation noted that these may even be offered at reduced prices by vendors who are keen to shift their asset before the tax comes into force on February 1st 2012.

According to Estate Net France's Luxury Property Index for the French Riviera and Monaco, the values of homes priced at €1 million (£868,616) or more remained stable during September, recording a 0.64 per cent rise over the month.